I’ve tried looking it up and been given a few different answers. Most are saying as long as it’s under 40 hours it’s fine and that EI will just pay you out the difference.

So if I worked 22 hours doing odd jobs, is that ok?

I moved from US to Canada about 4 years ago and have the same job. My employer has a Canadian entity as well, so converts my usd pay to cad and runs my payroll in Canada. However, they mention there are additional costs compared to the US (taxes, foreign exchange etc) and over time I’ve realized, I’m getting lower than what I used to get back in US. Wondering if anyone’s in similar situations and any suggestions how to get the best possible pay for myself. Employer uses Bank of America for transferring money between their US and Canada bank accounts.

My spouse and I have $150k. We moved provinces and want to purchase a house for $750k. We aren’t eligible for a mortgage as I was laid off last year. We are currently renting but rent is more than the mortgage would be. My parent has offered to loan the difference until I secure new employment. I’m not sure if it’s better for them to buy the entire house, then sell it to us next year or loan us the difference and we buy it and then pay them back the loan when we get a mortgage. Or we go in together and then we buy her out somehow with a mortgage. I believe we wouldn’t be able to get a mortgage if we purchase the house with cash in our name? Who would we need to meet with to figure this out. Real estate lawyer? Mortgage specialist? Accountant?

I currently use a wealth management advisor, and was recently referred to a person that works for Optimize Wealth Management, that had some interesting information about their services. The biggest thing is probably that they have a portfolio manager that has managed to perform a little above some of the other portfolio managers I've worked with previously, but they are still somewhat of a newish company or smaller company from what I can gather (I want to say ~15 years in market and +/- $9B in assets if I recall correctly). The management fee of 0.7% seems more or less par for the course, and they also pitch the usual wealth management and financial optimization I currently get (tax optimization, goal mapping, costs, etc.) along with annual tax services, mortgages/insurance support, will amendments, etc.).

I can't find a lot of information or reviews about them. I assume they are a legimiate and trustworthy company (as much as anyone) but I was curious about what opinions others might have of them, if any at all, prior to making a decision to transfer my life savings to them. The advisor is a family friend of a close friend, so I don't doubt them but just have a little bit of hesitation because I don't run in this space or know who Optimize is. But I don't feel like my current advisors at Assante are getting me the most out of my investments so I am intrigued by the idea (I'm also happy to pay the management fee to have someone else worry about all of this honestly, my personal brain power is tapped out). My goal is just to have it sit in a relatively steady growth portfolio that is a little more aggressive to give me a means to retire in 20-25 years

As the title says..my neighbor works for CIBC (Wood Gundy) and she must have her salary deposited into a CIBC bank account (she mentioned it once when she was over for a BBQ). We're not that close so I didn't want to pry but I'm curious why is that?

I travel around the US for a lot of the year and I am looking for ways to avoid paying FX fees, if any exist.

I have a TD USD bank account in Canada & the USA and a USD credit card.

But TD still appears to charge a 4% conversion fee if I ever transfer CAD into any USD account.

Is there anyway to get USD through TD or elsewhere without these fees or lower fees without earing an income in USD?

I know about Norbert's gambit, but it's a bit cumbersome for monthly bills.

Applied for CCB and got a letter asking for more info.

The CRA is asking for income in the year we became (tax) residents which is lets say 2022. Then they want to go further 2 years back which is 2021 and 2020. Isnt this counterproductive - rather than look at an applicants latest reported income which is 2023 they are asking for historical income which is a lot less than my current income… based on old income i will get CCB but then if they look at my current income i might qualify for less and they will ask for returning it.. please share your thoughts what should i do?

Hello. I am a full time resident in Saskatchewan. I work half-time for an employer based in Saskatchewan and just started working half time remotely for an employer based in Alberta. On my TD1AB, should I be claiming the basic personal amount deduction? I already claim it in SK but I am not sure if I can claim one for each province or if I should check the "more than one employer" box like I do for the federal returns.

I was holding Global X High Interest Savings ETF (CASH.TO), and everything seemed stable until a sudden drop in price as seen in the chart. (Not able to attach picture)

I thought cash ETFs were supposed to be relatively safe and stable, tracking high-interest savings accounts.

Is this a normal fluctuation, or does it indicate something more concerning?

Just need some insights as I am new to this.

https://www.canada.ca/en/department-finance/news/2025/01/government-of-canada-announces-deferral-in-implementation-of-change-to-capital-gains-inclusion-rate.html

News release January 31, 2025 - Ottawa, Ontario - Department of Finance Canada

Today, the Honourable Dominic LeBlanc, Minister of Finance and Intergovernmental Affairs, announced that the federal government is deferring—from June 25, 2024 to January 1, 2026—the date on which the capital gains inclusion rate would increase from one-half to two-thirds on capital gains realized annually above $250,000 by individuals and on all capital gains realized by corporations and most types of trusts. The capital gains inclusion rate represents the portion of capital gains that is taxable.

To ensure most middle-class Canadians do not pay more tax once the capital gains inclusion rate is increased, the government will maintain or enhance existing capital gains exemptions while creating a new investment incentive.

The capital gains exemptions being maintained and created would include:

Maintaining the Principal Residence Exemption, to ensure Canadians do not pay capital gains taxes when selling their home. Any amount they make when they sell their home will remain tax-free. A new $250,000 Annual Threshold for Canadians, effective January 1, 2026, to ensure individuals earning modest capital gains continue to benefit from the current one-half inclusion rate. Capital gains, including on the sale of a secondary property, such as a cottage, will be eligible for the $250,000 annual threshold, meaning a couple selling a cottage with a $500,000 capital gain would not pay more tax. Increasing the Lifetime Capital Gains Exemption to $1.25 million, effective June 25, 2024, from the current amount of $1,016,836 on the sale of small business shares and farming and fishing property. With this increase, Canadians with eligible capital gains below $2.25 million would pay less tax and be better off, even after the inclusion rate increases on January 1, 2026. A new Canadian Entrepreneurs’ Incentive, to encourage entrepreneurship by reducing the inclusion rate to one-third on a lifetime maximum of $2 million in eligible capital gains. This incentive would take effect starting in the 2025 tax year and the maximum would increase by $400,000 each year, reaching $2 million in 2029. Combined with the new $1.25 million lifetime capital gains exemption, when this incentive is fully rolled out, entrepreneurs would pay less tax and be better off on capital gains of up to $6.25 million. The proposed implementation date for the increase in the Lifetime Capital Gains Exemption and the introduction of the Canadian Entrepreneurs’ Incentive would not change.

The government will introduce legislation effecting the increase in the capital gains inclusion rate, the increase in the Lifetime Capital Gains Exemption and the introduction of the Canadian Entrepreneurs’ Incentive in due course.

Quotes “The deferral of the increase to the capital gains inclusion rate will provide certainty to Canadians, whether they be individuals or business owners, as we quickly approach tax season. Given the current context, our government felt that it was the responsible thing to do. I look forward to further conversations with Canadians on how we can ensure Canada’s fiscal policy encourages robust and sustained economic activity in every region of our country.”

• The Honourable Dominic LeBlanc,

Minister of Finance and Intergovernmental Affairs

Hello All,

I currently own an old house on a large lot in Kamloops, BC.

Our Lot : 9000sqft, the city has a vacant lot beside ours which is approx 14500sqft.

The city wants to do a land assembly to build a seniors home.

They will be reaching out to us in March to discuss the details.

What should we expect? I know the zoning and permits won't be an issue, because the city said this is a hotspot piece of land.

Any insight or previous experiences, I'd love to hear.

Thanks!

Just received an email from Questrade that you can now do journalling requests without needing to contact customer service. This makes Norbert’s Gambit easier to do now.

Great right? Well, they are now going to charge $9.95 per journalling request instead of the prior free option. You would think automating a service and not requiring customer service staff to manually do it would make things cheaper and not more expensive, I guess not.

Details here: https://www.questrade.com/learning/investment-concepts/dual-listed-securities/journaling-shares

Hi all,

I signed up for a fit4less membership at one of the self serve kiosks, used my debit card to pay for the initial payment, and had to put in my banking info for future payments. Turns out I put my banking info in wrong, I didn’t know I would need it and had to go off memory. They emailed me shortly after requesting I give them the correct information so they could charge my account. I haven’t been back and have decided I don’t want to continue my membership there. However, they have now emailed me saying I’ve missed a monthly payment and will have to pay that plus an extra 25$ fee for missed payment, and if I want to cancel I have to pay another month they require 30 days notice. Jw, as they don’t actually have my correct banking information, if they can actually do anything that will impact my credit or myself personally if I just don’t pay?

Hey so I'm trying to send a payment to CRA since I kept getting GST/HST and carbon credit after I left Canada in December 2023 but every time I try there's always something wrong. I have been trying to pay for MONTHS. First I got a message that transaction cannot be completed and now when I proceed to payment the page to fill put my card information is blank.
I'm no longer in Canada so paying by debit card is the only way I can use. My country no longer uses cheques. Not sure what to do and it's driving me nuts that I can't pay even if I wanted to.

Hi everybody.

I’ve been living in the UK since September and I’m wondering if I can contribute to my TFSA/FHSA from abroad? I’ve maxed both accounts out until this year.

Some info that may help answer the question:

-My income since moving has been about $20,000 cnd (roughly £10,000 from my job in UK) -The money to be maxing out my TFSA/FHSA would be coming from my Canadian margin account on QT. My TOTAL income for 2024 was ROUGHLY $40,000cnd ($20,000 working in Canada, and $20,000 in UK)

Thanks in advance :)

I made a post a few months back regarding my portfolio manager, who charges 1.5% fee. I started with this manager when I was rather financially illiterate, and have since learned about the importance of fees.

The manager has me basically in a couch potato portfolio consisting of xgro, gold, and crypto. Nothing else.

I told him I was leaving, and he said he would drop the fee to 0.75%. Something I feel like I could easily do.

I don’t really get any other information from his team other then “ we’re going to max out fhsa, tsfa and then rrsp”

Is a 0.75% worth staying?

Feel free to be as critical as needed

I am looking to understand the what my contribution room would be following removing money the prior year.

Hypothetically:

Say I deposited $10,000 to my TFSA in 2023.

By 2024, that $10,000 is now worth $12,000 and I withdraw the full amount.

Come 2025, when i receive back the contribution room relating to that withdrawal, how much would that contribution room be - $10,000 or $12,000?

Curious why people don't apply CAGR when it comes to housing appreciation?

Often it's %differnce over x number of years, but housing as an investment also experiences compound growth

What am I missing?

I have about $100K in a high interest savings account. It earns very little; maybe $80 a month in interest. I left it in a savings account so that it was accessible to me for urgent requirements but I'm at the point now where I find I don't need to get at it. I also am debt-free at the moment.

I was thinking of maybe looking to invest some or all of it so it can grow a bit but with the very likely economic instability coming in the immediate future, tariffs and canada/us relations being what they are, what's the safest way to have it grow? Note I am 61 and I will be retiring in the not too far future (2 years) so I don't want to tie it up long term.

Thoughts?

I recently had some endodontic work done. A tooth that previously had a root canal got infected, so the root canal needed to be redone.

The endodontist charged me for: #1- The root canal, and

#2 - A fee for performing the procedure through the existing crown.

During the procedure, he cracked the crown which needed to be completely removed and replaced.

I'm totally fine with #1, because shit happens. The old root canal was 20 years old from a different dentist in another country. I'm annoyed at #2 however, because it was a surcharge for something that wasn't done properly.

Would it be normal to pay for #2, since it wasn't succesful?

Hey everyone. I was laid off from my full time job. I also own a part time business/corporation. i was honest with my ei application and they approved it. I keep all the corporation money separate from my own and I do not "pay" myself anything as its a newer business and im trying to recoup the exspenses. So I technically volunteer lol.

So what I'm wondering is, if my corporation makes money, do I have to report it as income? even though the corporation makes it and not myself?

I opened a RESP account at TD direct invest for my daughter. Now we have just moved from Canada to the US. After I told TD about my move, they told me that the account is gonna be in liquidation only mode. That is their policy made a while back and can’t be changed. I wonder what my options are if I want to still at least trade. Any other banks or brokerage accepts opening a RESP and allows full buy/sell functionality for US residents?

Hello,

In the past when doing my taxes I was disorganized and lazy. When filling out my Unused RRSP Limit carried forward from past year I made educated guesses.
Q1) Is the room the CRA site shows today based on my actual income and contributions? I would assume so but just want to be sure.

Q2) I have a large chunk of room and can put a dent in it this year which I want to do. I believe I should contribute enough to lower my tax bracket. As the first tax bracket is 15% of on first $55,867 earned. Should I be contributing $X… Where ”my income this year” - X = less then 55,867? Again I assume so but want to be sure.

Q3) How do I determine my HBP remaining? I used 25,000 and I’ve been using 1666.66 towards repayment each year. Again want to double check if I missed a year.

Q4) If I have any extra it would go TFSA

Looking to potentially sell my car but have never used clutch. They have a good quote on the car, but I wanna make sure everything is legit and works properly.

Are the scheduled drops day set in advance or can you have a specific date of your choice as I’m looking to sell urgently within the next week?

How long does it take for the money to be transferred?

My cars in excellent condition from the inside and out. How reliable are the reviewers when they come to see the car? Can you challenge them if they challenge your description on the website? Can you negotiate the price of the car further up when at the drop site?

I'm a 25 yo non-smoker Male living in Ontario and looking to get a Term Life Insurance policy of 35-40 years. The best quotes I got from are Primerica (Class 4 after they did tests) of $44 a month for $500,000 and from Equitable Life of $37.5 for $500,000 until I turn 65 (40 year term).

Out of all other companies, which had their premiums for a policy of 35-40 years in mid-high 40s, Equitable Life has this much lower rate. Is there any catch with Equitable Life? I did see that their AM Best rating is A and for Primerica it is A+. Also, what are the payout ratios for both?

Thank you for your help.

I may be leaving my current position, and would no longer have the employer contribution matches into the DCPP account (RRSP is self funded only - I put bonuses directly into here) . Should I move both accounts (if possible) to Wealthsimple? I know little about a DCPP account, so I’m not sure if this is offered by WS.

I will have a new job lined up before I go, but still tbd. Not sure if I can transfer it all over to wherever my next employer will use.

Would appreciate any insight and apologies in advance for my lack of knowledge on the topic.

Hey all, I left Canada mid last year and missed updating personal information for my workplace RRSP account (if it makes a difference, I am working for the same company but in a different country). I planned to do it once I had moved (with a new number and address) but now I can’t access my account because I cancelled my Canadian phone number before leaving so can’t get opt to login. I tried calling few times but no luck - call ends after few rings. Now I am looking for my statement to file taxes and also stop physical documents going to my previously leased place. Any way I can reach out to them without flying to Canada? I tried general email address but no luck. Thanks in advance.

Hello everybody,

Just want to know if this is normal? My wife took 2 years off work to take care of our new daughter. When she returned to work last week she was greeted with a message that our employer kept paying for her insurance while she was gone and that now she owes them $6000 to pay them back for the insurance payments. I've never heard of this happen before so just looking for advice. Thank you

Location: Quebec

I was changing my credit card (previous card started charging me annual fees) and I forgot to update the new card details on my home insurance. It was November - and the home insurance couldn’t charge me for 2 consecutive months and they eventually cancelled my coverage. All these while they sent me letters and communications through Canada Post and they were delivered to me only in January - when I realised about the mess. They ended up charging me $60 for each NCF and $80 for reinstatement ($200 total). My point is - I never received the letters - and as soon as I received the same I acted upon it. Should I reach the ombudsman office to waive this $200? The premium is pretty small and so it went unnoticed at my end.

Does anybody know how this works I got a car financed it and got the loan with cibc the dealership gave me paper and everything but there is literally no loan number on the papers. I went in to cibc to see if the balance and she said she can’t find a loan under my name? Car was purchased on the 3rd of Jan in terms of document signing.

I showed CIBC my paper work too and she was like that’s weird they don’t have any loan number here although the papers have cibc stamped on it.